Section 7C(3) in The Companies (Profits) Surtax Act, 1964
(3)Where, on making the regular assessment, the '[Assessing Officer] [Substituted for the words "Income-tax Officer" by Act 04 of 1988, section 187] finds that any company which is required to send an estimate under sub-section (8) of section 7A has not sent the estimate referred to therein, simple interest at the rate of [fifteen per cent] [Substituted for the word "twelve per cent" by Act 67 of 1984, section 77] per annum from the 1st day of April next following the financial year in which the advance surtax was payable in accordance with the said sub-section (8) up to the date of the regular assessment shall be payable by the company upon the amount by which the advance surtax paid by it falls short of the assessed surtax.
